Rental Classes - Revision history

Jwolbert at 13:24, 21 June 2016

2016-06-21T13:24:55Z

Yrobinet: /* Cost Percentage */

2014-03-30T17:46:51Z

Cost Percentage

Yrobinet: /* Tax Category */

2014-03-30T17:46:00Z

Tax Category

Yrobinet: /* Rental Class Grouping */

2014-03-30T17:42:53Z

Rental Class Grouping

Lsilverman at 18:06, 6 February 2014

2014-02-06T18:06:02Z

Jearl at 20:39, 29 August 2012

2012-08-29T20:39:29Z

Jwolbert at 20:18, 29 August 2012

2012-08-29T20:18:55Z

Jwolbert: Created page with "==== How do I determine what my Rental Classes should be? ==== A Rental Class is a grouping of Asset Types that are: * Similar kinds of items * Normally rented at the same re..."

2012-08-29T20:18:12Z

Created page with "==== How do I determine what my Rental Classes should be? ==== A Rental Class is a grouping of Asset Types that are: * Similar kinds of items * Normally rented at the same re..."

New page

==== How do I determine what my Rental Classes should be? ====

A Rental Class is a grouping of Asset Types that are:
* Similar kinds of items
* Normally rented at the same rental rate
* Are treated the same way for sales tax

==== Rental Classes ====

* There is no limit to the number of Rental Classes
* Each Rental Class may contain many Asset Types
* Each Asset Type may belong to only one Rental Class

For example, an "Industrial, Large" Rental Class could be created for setting rates and rental methods on all 200- and 300-size industrial cylinders.

[[File:RentalClass.jpg|border]]

Each Rental Class is assigned to a Rental Billing Period Type. This allows for different Rental Classes to be billed on different cycles. For example, customers may be billed once a month for cylinder rental, but more frequently for equipment rental. However, even if different Rental Classes are billed on the same cycle, assigning them to different Rental Billing Period Types allows their rental bills to be run separately. Contact TrackAbout to setup the different Rental Billing Period Types.

Every Rental Class has an Accounting Code which gets reported back to the business/accounting system. This is typically the general ledger (GL) or charge code from the accounting system.
Each Rental Class is assigned to a Tax Category to determine how it is taxed. Contact TrackAbout to setup the different Tax Categories.

Rental Classes can also be used for displaying a less-detailed Rental Bill. There is an option to configure TrackAbout such that the Rental Bill displays one line for every Rental Class, as opposed to displaying one line for every Asset Type.

← Older revision		Revision as of 13:24, 21 June 2016
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		+	{{TrackAbout Feature
		+	\|Parent Module=Rental
		+	\|Feature Description=Rental Classes provide the default pricing structure for assets in the TrackAbout rental system.
		+	}}
	[[Rental\|<< Back to Rental Module]]		[[Rental\|<< Back to Rental Module]]

@@ Line 37: / Line 37: @@
 Each Rental Class has an Accounting Code that TrackAbout uses to report to the business/accounting system. This is typically the general ledger (GL) or charge code from the accounting system.
-==== Cost Percentage ====
+==== Cost Percentage (Tecsys only)====
 Cost Percentage is specific to the Tecsys accounting system. The value doesn't affect the TrackAbout rental calculations but is included when bills are exported for the Tecsys system.
 [[Category:Rental]]

@@ Line 31: / Line 31: @@
 You might want to bill different types of assets on different cycles, such as billing customers once a month for cylinders but more frequently for equipment. TrackAbout enables this by categorizing Rental Classes into several Rental Billing Period Types. This feature can also allow you to divide different Rental Classes into blocks that can be run separately. Contact TrackAbout Support if you'd like to set up custom Rental Billing Period Types.
-==== Tax Category ====
+==== [[Sales_Tax|Tax Category]] ====
-Rental Classes are assigned to a Tax Category to determine how they should be taxed. Contact TrackAbout Support for assistance in setting up your Tax Categories.
+Rental Classes are assigned to a [[Sales_Tax|Tax Category]] to determine how they should be taxed. Contact TrackAbout Support for assistance in setting up your [[Sales_Tax|Tax Categories]].
 ==== Accounting Code ====

@@ Line 20: / Line 20: @@
 ==== Rental Class Grouping ====
 Rental Class Groups allow you to organize Rental Classes into meaningful categories. If you're just getting the Rental module set up in TrackAbout, you'll need to create at least one or two Rental Class Groups prior to creating any Rental Classes.
 ==== Rental Billing Period Type ====

← Older revision		Revision as of 18:06, 6 February 2014
Line 32:		Line 32:
	==== Cost Percentage ====		==== Cost Percentage ====
	Cost Percentage is specific to the Tecsys accounting system. The value doesn't affect the TrackAbout rental calculations but is included when bills are exported for the Tecsys system.		Cost Percentage is specific to the Tecsys accounting system. The value doesn't affect the TrackAbout rental calculations but is included when bills are exported for the Tecsys system.
		+	[[Category:Rental]]

@@ Line 1: / Line 1: @@
 [[Rental|<< Back to Rental Module]]
-==== How do I determine what my Rental Classes should be? ====
+==Rental Classes==
-A Rental Class is a grouping of Asset Types that are:
+A Rental Class is a collection of similar Asset Types that are:
 * Normally rented at the same rental rate
-* Are treated the same way for sales tax
+* Treated the same way for sales tax
-==== Rental Classes ====
+Asset Types in a Rental Class are billed using the same Rental Method, such as Daily, Weekly, Monthly or Peak Balance, and share the same rates.
-* There is no limit to the number of Rental Classes
+You assign each Asset Type to a rental class. You can create an unlimited number of Rental Classes, and each Rental Class can contain an unlimited number of Asset Types. But an Asset Type can belong to only one Rental Class.
-For example, an "Industrial, Large" Rental Class could be created for setting rates and rental methods on all 200- and 300-size industrial cylinders.
+If you're renting cylinders, for example, you might create an '''Industrial, Large''' Rental Class to set rates and rental methods on all 200- and 300-size industrial cylinders. This Rental Class could include both Argon 200 and Oxygen 300 cylinders, which would be billed using the same default rates and billing method.
-[[File:RentalClass.jpg|border]]
+Rental Classes also allow you to provide less-detailed, summary-style rental bills to customers if desired. TrackAbout rental bills can be configured to display one line item for every Rental Class, instead of displaying each Asset Type on its own line.
-Each Rental Class is assigned to a Rental Billing Period Type. This allows for different Rental Classes to be billed on different cycles. For example, customers may be billed once a month for cylinder rental, but more frequently for equipment rental. However, even if different Rental Classes are billed on the same cycle, assigning them to different Rental Billing Period Types allows their rental bills to be run separately. Contact TrackAbout to setup the different Rental Billing Period Types.
+=== Rental Class Properties ===
-Every Rental Class has an Accounting Code which gets reported back to the business/accounting system. This is typically the general ledger (GL) or charge code from the accounting system.
+==== Rental Class Grouping ====
-Each Rental Class is assigned to a Tax Category to determine how it is taxed. Contact TrackAbout to setup the different Tax Categories.
+Rental Class Groups allow you to organize Rental Classes into meaningful categories. If you're just getting the Rental module set up in TrackAbout, you'll need to create at least one or two Rental Class Groups prior to creating any Rental Classes.
-Rental Classes can also be used for displaying a less-detailed Rental Bill. There is an option to configure TrackAbout such that the Rental Bill displays one line for every Rental Class, as opposed to displaying one line for every Asset Type.
+==== Rental Billing Period Type ====

← Older revision		Revision as of 20:18, 29 August 2012
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		+	[[Rental\|<< Back to Rental Module]]
		+
	==== How do I determine what my Rental Classes should be? ====		==== How do I determine what my Rental Classes should be? ====